Recently, the city of Hangzhou hosted the third Global Digital Trade Expo, which attracted over 1,500 companies from 32 nations and regions, with more than 30,000 professional buyers registering to attend. This event showcased the vibrant dynamism of digital trade, an essential component of the digital economy, highlighting its significant role as a new trend in international trade and a fresh growth catalyst for economies around the globe.

According to the "Global Digital Trade Development Report 2024," the global digital trade volume experienced an impressive average growth rate of 8.8% per year from 2021 to 2023. China's digital trade has also shown remarkable achievements, further propelling innovative development in this sector. For instance, the total trade volume of services deliverable digitally surged by 8.5% in 2023 compared to the previous year. New products continue to emerge, with the domestically developed 3A digital game "Black Myth: Wukong" breaking records on the gaming platform Steam, attracting over 2.4 million concurrent players globally, marking it as the second-most-played game in the platform’s history.

Recognizing and unleashing the potential of digital trade bears several benefits for industrial development, such as stabilizing growth, restructuring sectors, and promoting transformation. This aligns with the current wave of technological revolutions and industrial transformations. To achieve the overarching objectives, it is imperative to adopt a multi-faceted approach focusing on critical areas while leveraging various strategies. Emphasis should be placed on enhancing infrastructure, securing talent, promoting coordinated development, guiding policies, innovating business models, and fostering international collaborations—all while creating a policy synergy to revitalize growth potential.

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At the foundation of digital trade development lies its digital infrastructure. Accelerating the construction of 5G networks, data centers, and cloud computing platforms is crucial in improving network bandwidth while reducing latency, thereby providing an efficient, stable, and secure environment for digital trade. Steady progression in the research and application of emerging technologies such as the Internet of Things, blockchain, and artificial intelligence is necessary to curate further innovative applications in this domain. Additionally, creating a comprehensive digital infrastructure also requires refinement of investment and financing mechanisms to enhance capital efficiency, thereby establishing a positive cycle of "input-output-reinvestment.” This will significantly boost the quality and efficacy of digital infrastructure.

The pivotal element in advancing digital trade is human talent. It’s essential to continually enhance talent development mechanisms by guiding universities to establish disciplines that align with the new trends of digital trade. Schools should dynamically adjust their curricula and program offerings, focusing on broadening educational approaches that increase student competency in interdisciplinary learning and application. Strengthening cooperation and communication between enterprises and educational institutions alongside research entities will aid in deepening the integration of industry, academia, and research, optimizing the collaborative educational framework. Such collaboration is pivotal for accumulating and amplifying talent resources, thereby providing robust support for the growth of digital trade. Additionally, refining talent recruitment mechanisms, nurturing a favorable employment environment, and expanding networks for attracting overseas talent will be significant in gathering exceptional trade professionals worldwide.

Coordinated regional development is another critical avenue for digital trade expansion. There is a pressing need to bolster support and guidance for eastern regions to maintain their lead in digital trade. Opportunities for medium and western regions should also be amplified, driving their pace of digital trade progress. This regional cooperation would embody a synergistic framework for digital trade where regional advantages complement one another. However, special attention must be paid to tailoring digital trade initiatives to local conditions, recognizing that not every region possesses the requisite infrastructure or conditions to thrive in this space. Adapting to technological rhythms and recognizing developmental realities is essential, encouraging regions with the right conditions to effectively leverage their local resource endowments to accelerate digital trade growth.

Policy guidance stands as a crucial safeguard for advancing digital trade. There is an urgent call to expedite the creation of a policy framework that aligns with the growth of digital trade while establishing robust regulations surrounding data cross-border flows, data security, and digital trade taxation. Collaborative efforts with international organizations should be intensified, actively participating in the formulation and negotiation of global digital trade regulations, aiming to create a more open, inclusive, and universally beneficial global digital trade ecosystem. Encouraging and supporting enterprises in exploring new trading methods such as cross-border e-commerce and digital service exports will also be essential. This transformation would further integrate traditional industries with the digital economy. Additionally, it is vital to enhance oversight and service provisions related to emerging business scenarios, ensuring the healthy and orderly progression of new business models in digital trade.